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ByGustan Cho
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Updated FHA Loan Requirements for 2024: What You Need to Know Are you considering an FHA loan to buy a home? FHA loans are popular because they’re one of the easiest types of mortgages to qualify for, especially if you’re a first-time buyer or have had credit issues. In this guide, we’ll review everything you…
ByGustan Cho
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FHA Guidelines on Medical Collections: Everything You Need to Know in 2024 Are medical collections standing in your dream of buying a home? Good news! FHA loans might be your best option to qualify for a mortgage—even if you have medical debt. In this blog post, we’ll walk you through the updated FHA guidelines on…
ByGustan Cho
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In 2024, is it possible to secure a mortgage with collection accounts? Yes, find out how it can be done! If you’re wondering whether getting a mortgage with collection accounts on your credit report is possible, you’re not alone. Many homebuyers find themselves in this situation, unsure whether their credit issues will stop them from…
ByAnngelli Abenes
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Your complete guide to VA loan with poor credit in 2024. Are you a veteran wondering if you can get a VA loan with poor credit? The answer is a resounding YES! Despite having less-than-perfect credit, many veterans can still qualify for a VA loan, one of the best mortgage programs available in the U.S….
ByAnngelli Abenes
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Credit Repair During FHA Loan Process: What You Need to Know in 2024 If you’re considering buying a home using an FHA loan, you might wonder how credit repair could fit into the picture. Improving your credit score is crucial, but navigating credit repair during the FHA loan process requires careful consideration. This guide will…
ByAlex Carlucci
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In this blog, we will cover and discuss qualifying for a mortgage with unpaid collections in Wisconsin in 2022. Many homebuyers are being told they cannot qualify for a mortgage with unpaid collections in Wisconsin. Old collections do not have to get paid to qualify for government or conventional loans in Wisconsin. Not all lenders…
ByAlex Carlucci
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In this blog, we will cover and discuss the steps to buying your first home in Wyoming. Buying your first home in Wyoming should not be stressful. It should be an exciting point in your life where you are making your single largest investment and starting a new chapter in your life as a homeowner….
ByAnngelli Abenes
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This article will explore the HUD CAIVRS Guidelines for FHA loans when obtaining a mortgage. Government-backed mortgage loans are an excellent option, particularly for those who have struggled to qualify for conventional financing. However, there’s a caveat: you can only qualify for these loans if your CAIVRS report is clear. If you need clarification on…
ByAnngelli Abenes
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In this blog, we will cover and discuss qualifying for mortgage with collection accounts guidelines. Homebuyers can qualify for a mortgage with collection accounts. HUD, the parent of FHA, has the most lenient agency mortgage guidelines than any other loan program. It is easier to get an approve/eligible per automated underwriting system (AUS) on FHA…
ByGustan Cho
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This blog will discuss FHA mortgage guidelines on credit disputes during the mortgage process. In general, you cannot have credit disputes during the mortgage process. There are a few credit disputes exempt from removal. Gustan Cho Associates is an expert in working with borrowers who have credit disputes. The following sections will discuss the FHA…
ByGustan Cho
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In this blog, we will discuss and cover Past Due Versus Collection And Charge Off Accounts when qualifying and getting pre-approved for a mortgage loan. FHA loans are the most popular mortgage loan programs today for first-time home buyers. What is the Difference Between Charge-Off and Collections? Charge-off and collections are distinct stages in the…
ByMike Gracz
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Homebuyers can buy a house and qualify for a mortgage with derogatory credit. Borrowers do not need perfect credit to qualify for a home mortgage. You can have derogatory credit tradelines and qualify for FHA, VA, USDA, Conventional, Jumbo, and non-QM loans. Gustan Cho Associates are experts in helping homebuyers with credit scores down to…
ByGustan Cho
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HUD, the parent of FHA, does not require you to pay off the outstanding unpaid collection account balances in order to qualify for FHA Home Loans. However, FHA will count a percentage of any outstanding non-medical collection account balances.
ByGustan Cho
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In this blog, we will discuss and cover the FHA Mortgage Guidelines on Collection Accounts for qualifying for an FHA loan. Per FHA mortgage guidelines on collection accounts, borrowers can qualify for an FHA loan with outstanding collection accounts without having to pay them to qualify for an FHA home loan. The Federal Housing Administration…
ByDale Elenteny
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In this blog, we will cover and discuss how homebuyers can qualify for a mortgage with new lenders after having a mortgage denied for late payments in Missouri after being pre-approved by a loan officer. Late payments in the past 12 months are very serious. Many borrowers will get a mortgage denied for late payments…
ByGustan Cho
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This guide covers bad credit mortgage guidelines on home purchase and refinance. Mortgage borrowers can qualify for home loans with bad credit per bad credit mortgage guidelines. FHA loans are the most popular mortgage loans for borrowers with bad credit and low credit scors. FHA loans can have fixed-rate or adjustable-rate mortgage (ARM) options, with…
ByGustan Cho
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In this article, we will cover and discuss conventional loan collection accounts guidelines. Conventional Loan Collection Accounts Guidelines for 2023 are implemented and set by Fannie Mae and Freddie Mac. FHA, part of the United States Department of Housing and Urban Development, commonly referred to as HUD, set the mortgage lending guidelines for FHA loans….
ByDale Elenteny
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In this blog, we will cover the debt collection laws in community property states and qualifying for a home mortgage. Debt Collection Laws In Community Property States do not make each person liable for each other’s debt. For example, if a spouse in a community property state were to rack up credit card debts, the…
ByGustan Cho
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This guide covers VA derogatory credit mortgage guidelines on VA loans. VA derogatory credit mortgage guidelines on VA loans are very lenient. VA mortgages have the most lenient lending guidelines than any other loan program. The Department of Veterans Affairs (the VA) is the government agency that governs VA loans to eligible members of the…
ByAli
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This guide covers common credit score questions from first-time homebuyers. What does a “good credit or good FICO” really mean One of the most important achievements in life (amongst many others) is to build a good credit history and thus achieve a respectable FICO score right? We all work very hard in life, day in…
ByGustan Cho
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This guide covers the frequently asked question do I have to pay collections for FHA loan approval. We will discuss the topic of do I have to pay collections for FHA loan approval. A large percentage of our borrowers are folks who were turned down by other mortgage companies because they had outstanding collection accounts…
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